الدور التنموي لصناديق الثروة السيادية في بلدان مختارة مع اشارة خاصة الى صندوق تنمية العراق == The Developmental Role of Sovereign Wealth Funds In A Selected Countries With Special Reference To Iraq Development Fund
Author name:
خالد شامي ناشور العطواني
Supervisor name:
فلاح حسن ثويني
General topic:
Administration and Economics
Specific topic:
Economy
Degree:
Doctorate
University:
Mustansiriyah University
Language:
Arabic
University location:
Baghdad
First pages:
07T4228 - p.pdf
Abstract:
The Sovereign Wealth Funds (SWFs) become, By Controlling a Huge Financial Assets and Increased Impact Within International Financial Markets, a Fundamental Pillar of Investment Through The World and One of The Most Important Indicators of Financialability of counties that owned themBecause They Can , BY(SWFs) , Converting The Financial Surpluses Coming From Natural Resources Into Productive Assets That Lead to Diversifying Income Sources , Achieving Fair Wealth Distribution Among Generations, Reducing Economic Shocks Effect, Stabilizing The Economy and Enhancing The Development. This Thesis Deals With The Problem of Countries That Depend on Revenues Coming From Natural Resources (Especially Iraq and other Developing Countries). As most of these Revenues are coming from Oil which its Prices and Revenues are Unstable, so those Countries are Exposed to Negative shocks and Structural imbalances that deepening because inefficient investment of oil revenues. Thus, the idea of establishing a (SWF) is a vital solution for the problems mentioned above and also to manage effectively the revenues coming from natural resources (non - renewable) in achieving economic stability and development. This study assumes that (SWFs) can be an important financial instrument for stabilizing the economy and for supporting the development. To Explain that, the study discusses experiments of U.A.E, Kuwait and Norway with (SWFs) and evaluates the performance of Development Fund of Iraq (DFI) in achieving different goals of the development with a perspective to adopt the idea of establishing a (SWF) consistent with the conditions of Iraq economy. The study concludes that an independent and qualified management with clear and transparent strategy are the main requirements for a (SWF) to be effective and productive in its role to achieve stability and development that can be seen by experiment of Norway. For Iraq, the study concludes that although (DFI) has successes in financing some economic sectors, but it suffers from major weaknesses like unclear strategy, inefficient management, unqualified control and unavailable data. Thus, (DFI) was unable to perform an effective role in supporting stability and sustainable development. The research suggest that Iraq needs to establish its own (SWF) with independent and qualified management to protect its natural resources, especially oil, and to direct financial surpluses coming from oil reasonably to assure sustainability for development and generations.
